Hawaii Medical Service Association sees a big profit gain to start 2012

By Kristen Consillio

POSTED: 01:30 a.m. HST, May 16, 2012

~~<p>Hawaii Medical Service Association recorded a $12.8 million profit in the three months ended March 31, its highest first-quarter gain since 2004.</p>
<p>The state's largest health insurer posted 53.8 percent growth in net income due in part to the Hawaii Employer-Union Health Benefit Trust Fund's switch on Jan. 1 from a self-funded medical plan — an arrangement in which an employer agrees to carry the risk for its members and their dependents — to a fully insured plan, in which HMSA has the risk.</p>
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Hawaii Medical Service Association recorded a $12.8 million profit in the three months ended March 31, its highest first-quarter gain since 2004.

The state's largest health insurer posted 53.8 percent growth in net income due in part to the Hawaii Employer-Union Health Benefit Trust Fund's switch on Jan. 1 from a self-funded medical plan — an arrangement in which an employer agrees to carry the risk for its members and their dependents — to a fully insured plan, in which HMSA has the risk. Login for more...